ETH is holding this bottom fib range while the weekly MACD is starting to tick to the upside. If sentiment changes for BTC as it looks like it may, then ETH should be able to make a swift move to the upside and target the weekly 55 EMA (Also where 50 MA is located). This would be my target for ETH to hit next as long as sentiment in the market turns bullish.
What I see: Bitcoin in a 5th wave, holding the 8 ema (recently bounced off the 55 ema). 55 ema is about to fan under the 8,13,21 emas which is very bullish! Time to take another crack at the $8,500 resistance!
What we know so far: #1 BTC has been in a downwards channel for half a year (since June near $14,000 high). 50% retracement from June highs to near 3k lows would be around $8500. #2 Weekly 55 EMA has been resistance for weeks. BTC has broken this resistance and challenged the 50% retracement level! (Very positive sign) #3 The bear case would be the Weekly 200...
BTC seems to be stuck under the weekly 55ema for a while now. This pump has been great and it broke the daily 55ema (at 7500) but the weekly is the major one that needs to be crushed before we set our eyes on an 8500 price target! if we break with conviction then I would bet that we hit 8500 real quick!
Bitcoin seems to be on a downward spiral to the bottom fib, around 5.5k USD. 6k has been a tremendous support during 2018. Although 5.5k seems like a great target, we still must respect the 6k psychological level and expect a bounce there before we reach 5.5k. Yes, I said it.. We will not stop at 6k. We will hit mid 5ks before we reverse back. We are bearish in...
A move up to the 50% retracement is in the books if BTC can keep this pressure up. If we are unable to break it then of course we are in jeopardy of losing the 7k level once more and this time dropping to mid 5ks if that breaks again. Will continue to monitor for now.
Bitcoin appears to be in the deadly death cross and if price does not show bullish signs of retaking the 55 ema soon, then we may see our beloved hero drop down to the mid 5ks once again. Just as the 200 ema and 200 ma crossed before the major run to 14k earlier this year, we see the same cross before the (china bullish news), This to me was clearly manipulated...
I expect Bitcoin to move lower over the next couple weeks and retest the low 7k levels. Many reasons why I believe BTC is showing weakness. You can see all my previous ideas on BTC. 9.5k level (.382 fib) was a major support during the descending triangle, which is now a major resistance. A retest of the low 7k range is the path of least resistance.
If the 55 EMA on the daily cannot hold, then we can be sure that prices can potentially see 7k levels once more. Alts are selling off which is a sign of weakness in the market. Will be watching Bitcoin carefully over this weekend!
Nice and simple TA here on VET/USDT. Needs to break this downtrend by clearing the 55D EMA and once that happens, we can talk about a reversal. Until then... we are still in a downtrend. But in due time, the phoenix will rise!
BTC must break the downtrend by reclaiming the 55D EMA. If this happens then BTC will most likely find support right around that 50% fib level and then we can watch to see how the market reacts. Right now, a correction could bring us back down if we are not able to power through this 55D EMA resistance. If we are unable to power through it... then we will most...
My Bitcoin price target has hit once again. I have many posted ideas dating back from mid july, that were pointing to a bearish bias. Sept 9th: Here is my latest from Oct 2nd:
BTC is hitting the 200 MA which crosses the 50% fib level. This looks like a pretty significant roadblock. If BTC is able to break and close above this level then we are set to retest the .382 fib next! If we reject here, we continue the bearish trend back to 7k!
Here I have the BTC 2hr chart showing my custom indicator that has built in support/resistance lines. These lines help make decisions on if you should take or shouldn't take a signal from the script.
Bitcoin looks like it will try to make a push to the 50% fib which is being sandwiched in-between the 200 EMA and 200 MA. This usually means that we are getting bearish. If the 200 EMA crosses under the 200 MA, that would be a sign that the 55 EMA may follow and death cross in the near future. Right now i'm still targeting 7,300 unless we can reclaim the 50% fib!
BTC is moving downwards just as I predicted in my previous post. Bears in control... tomorrow is "red" Monday. Let's see what happens tomorrow! Previous post:
As per my previous post here on tradingview, I showed that BTC is looking bearish and must show some kind of reversal sign... such as reclaiming EMAs, supports, HH, reclaiming the 50% fib... Well nothing is really looking too hot for the king of blockchain. Will have to keep evaluating over the next few days. 75% chance we drop to low 7ks. 25% chance we make...
This is my indicator with support/resistance lines that automatically configure to the chart. These lines will help you with making decisions on when to take or to not take signals.